http://interfluidity.powerblogs.com/ en-us 2008-06-25T10:06+00:00 http://interfluidity.powerblogs.com/posts/1214354098.shtml If a commodity is in "backwardization", that is, if futures prices are lower than current prices, does that imply that futures markets are discouraging storage (encouraging disgorgement)? Paul Krugman makes the... Steve Randy Waldman 2008-06-25T10:06+00:00 http://interfluidity.powerblogs.com/posts/1213919610.shtml In response to a (somewhat ridiculous) proposal that we "sue OPEC" over high oil prices, Mark Thoma writes:... Steve Randy Waldman 2008-06-19T23:06+00:00 http://interfluidity.powerblogs.com/posts/1213811832.shtml Felix Salmon writes this morining in exasperation:... Steve Randy Waldman 2008-06-18T17:06+00:00 http://interfluidity.powerblogs.com/posts/1213339806.shtml What distinguishes a speculator from a hedger? Here's the New York Times:... Steve Randy Waldman 2008-06-13T06:06+00:00 http://interfluidity.powerblogs.com/posts/1213243935.shtml If you think $135 oil is a speculative bubble, that the only basis for current prices is want of a pin, here's a plan. If you're right, there's a market failure.... Steve Randy Waldman 2008-06-12T04:06+00:00 http://interfluidity.powerblogs.com/posts/1213113934.shtml While chatting with a commenter on the previous post, I went back to the Mathematica notebook where I had played with the numbers, and found an error in my arithmetic... Steve Randy Waldman 2008-06-10T16:06+00:00 http://interfluidity.powerblogs.com/posts/1212937471.shtml Much of the chatter surrounding the latest BLS release has focused on a spike in the denominator of the unemployment statistic, the fraction of the population either working or actively looking... Steve Randy Waldman 2008-06-08T16:06+00:00 http://interfluidity.powerblogs.com/posts/1212728061.shtml A very good friend of mine is putting together a venture capital fund devoted to "double bottom line" companies in financial services. In particular, this fund will invest in new... Steve Randy Waldman 2008-06-06T04:06+00:00 http://interfluidity.powerblogs.com/posts/1212426229.shtml Greg Mankiw offers a strong endorsement of a proposal to cut the corporate income tax from 35 to 25 percent, claiming "It is perhaps the best simple recipe for promoting... Steve Randy Waldman 2008-06-02T18:06+00:00 http://interfluidity.powerblogs.com/posts/1212427472.shtml A dramatic explosion and electrical fire somewhere in Texas took Interfluidity down for much of the weekend. (Thank goodness no one was hurt, and all things considered both The... Steve Randy Waldman 2008-06-02T17:06+00:00 http://interfluidity.powerblogs.com/posts/1212174665.shtml Poor, abused readers — I am making a recycling bin of your eyes!... Steve Randy Waldman 2008-05-30T19:05+00:00 http://interfluidity.powerblogs.com/posts/1211940323.shtml Michael Masters' testimony regarding the role of speculation in commodity prices has drawn a lot of comment since last week. [See, for example, Cassandra, James Hamilton, Tim... Steve Randy Waldman 2008-05-28T23:05+00:00 http://interfluidity.powerblogs.com/posts/1211451502.shtml When I see what commodity prices are doing, I don't think "low interest rates" or "skyrocketing demand". I think about a loss of confidence.... Steve Randy Waldman 2008-05-22T10:05+00:00 http://interfluidity.powerblogs.com/posts/1210672198.shtml Mark Thoma offers a very thoughtful rejoinder to my post on whether the Fed should be given authority to pay interest on deposits. Mark's comments range from specific,... Steve Randy Waldman 2008-05-13T17:05+00:00 http://interfluidity.powerblogs.com/posts/1210513606.shtml Last week, the Fed decided to ask Congress for the right to pay interest on bank reserves. (Hat tip Barry Ritholtz, see also William Polley, Mark Thoma,... Steve Randy Waldman 2008-05-11T23:05+00:00